Announcement No. 2, 2012

May 10 2012

Further strengthening of funding and revised outlook for 2012

The Lauritzen Foundation has extended the maturity of a DKK 600m subordinated loan provided in 2009 with an original scheduled maturity in April 2014. The maturity has been extended by eight years to 2022.

Terms regarding post delivery financing for three Chinese newbuildings to be delivered in 2013 has been agreed upon and a loan agreement will be finalized during Q2 2012.

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